US

Oracle FLEXCUBE Credit Module Modification

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    9 days it took to implement urgent changes

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    Central bank full regulatory compliance

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    Custom improvement of Oracle FLEXCUBE

Project
overview

For Bank al Etihad, we’re developing and upgrading the internal data warehouse. One of the knowledge sources is the related core banking system, i.e. Oracle FLEXCUBE, in case of this client. During the project, we analyzed and implemented an urgent change request. It was related to the credit module of Oracle FLEXCUBE, its data flow.

Client
information

Bank al Etihad is a Jordanian bank that offers a wide range of financial services, including online payments and mobile banking. It is one of the fast-growing banking entities in Jordan that strives to keep pace with the current global economy and technological advancements.

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Project overview image

Business
challenge

Due to the recent COVID-19 pandemic, central banks in various countries listed new directives for commercial banks. They related to credit/loan restructuring and payment schedules. The reason behind these changes is simple: a lot of people were fired, so they couldn’t repay their credits or mortgage loans on time. Bank al Etihad had to comply with these new rules, as well.

Technical
challenges

To meet the central bank’s requirements, our client had to change the credit module of Oracle FLEXCUBE. The main issue was that the core banking systems aren’t intended for such changes. Any data/process modification can be considered fraudulent and illegal. Hence, we had to find out how to avoid data deviation between reporting and analytical subsystems.

Solution
delivered

Initially, we carefully analyzed the client’s change request. Thanks to close cooperation between analysts, developers, Oracle engineers, and FLEXCUBE consultants, the team implemented the change within a few weeks. We identified business gaps, upgraded the credit module, and provided sufficient testing: smoke, regression, and integration. As a result, our client received the software system compliant with new regulations.

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VALUE TO OUR CLIENT

  • Full regulative compliance

    With the updated credit module, Bank al Etihad meets all the central bank’s requirements from the coronavirus-related directives.

  • No deviation and penalties

    After a thorough analysis, we were able to implement the change request in a safe way, without violating strict bank rules.

  • Relief of social pressure

    The bank’s customers can now restructure their loans and credits without issues. As well, the bank itself can handle this process smoother.

Our Tech Stack

  • Oracle Database icon Oracle Database
  • Oracle FLEXCUBE icon Oracle FLEXCUBE

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